We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why DraftKings (DKNG) Dipped More Than Broader Market Today
Read MoreHide Full Article
DraftKings (DKNG - Free Report) closed at $33.43 in the latest trading session, marking a -0.42% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.07% for the day.
Prior to today's trading, shares of the company had lost 10.31% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.29% and the S&P 500's gain of 3.98% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.14, showcasing a 126.42% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.26 billion, indicating a 47.39% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for DraftKings. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 5.13% rise in the Zacks Consensus EPS estimate. At present, DraftKings boasts a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why DraftKings (DKNG) Dipped More Than Broader Market Today
DraftKings (DKNG - Free Report) closed at $33.43 in the latest trading session, marking a -0.42% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.07% for the day.
Prior to today's trading, shares of the company had lost 10.31% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.29% and the S&P 500's gain of 3.98% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.14, showcasing a 126.42% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.26 billion, indicating a 47.39% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for DraftKings. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 5.13% rise in the Zacks Consensus EPS estimate. At present, DraftKings boasts a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.